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The changing value of employment and its implications

Davide Alonzo and Giovanni Gallipoli ()

No 56, CLEF Working Paper Series from Canadian Labour Economics Forum (CLEF), University of Waterloo

Abstract: We characterize the employment value of different worker-occupation matches and estimate the substitutability of match-specific inputs in production. In an equilibrium model of the U.S. labor market, we examine the responses of employment and wages to shifts in technology and match values. Earnings are mainly driven by technology while match value heterogeneity influences the distribution of workers across occupations. The model delivers measures of rents and compensating differentials. After 1980, employment rents increased for educated workers but stagnated for others. Compensating differentials have risen on average, particularly in occupations where worker mobility has grown.

Keywords: employment; wages; equilibrium; technological change; heterogeneity; occupations (search for similar items in EconPapers)
JEL-codes: D51 D58 J2 J3 J62 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-lab and nep-tid
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https://www.econstor.eu/bitstream/10419/269210/1/1838106839.pdf (application/pdf)

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Working Paper: The Changing Value of Employment and Its Implications (2023) Downloads
Working Paper: The Changing Value of Employment and Its Implications (2023) Downloads
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